Copper futures edged up on overseas cues, spot demand

Amid a firm global trend and pick up in demand at domestic spot market, copper prices traded higher by 0.28 per cent to Rs 342.10 per kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, copper for delivery in current month contracts traded higher by 95 paise or 0.28 per cent to Rs 342.10 per kg in business turnover of 1,167 lots.
Likewise, the metal for delivery in February 2017 contracts edged up by 75 paise or 0.22 per cent to Rs 347.40 per kg in 21 lots.
Globally, copper for three-month delivery gained 1.1 per cent to USD 5,043.50 per tonne at the London Metal Exchange.

Analysts said firm trend overseas and increased demand from consuming industries in domestic spot markets led to rise in copper prices in futures trade.